Yunnan Baiyao Group Co., Ltd (SHE: 000538), a Kunming-based pharmaceutical firm, has entered into a three-year partnership with Huawei Technologies Co., Ltd to explore the application of artificial intelligence (AI) in drug development. The collaboration will focus on macro and small molecule drug design, related diseases, and database development.
Partnership Details
Huawei will utilize its strengths in information and communication technology (ICT) products, big data analysis, smart city solutions, and cloud computing to provide Yunnan Baiyao with competitive products and services. The telecom giant will also assist Yunnan Baiyao in enhancing its industry-leading information transformation capabilities. Financial terms of the partnership were not disclosed.
Yunnan Baiyao’s Digital Transformation
Yunnan Baiyao has been bolstering its digital transformation efforts since 2021 by hiring multiple former Huawei executives. The company’s core therapeutic areas include oral care, skin management, medical aesthetics, and others. In 2021, it reported net profits of RMB 2.8 billion (USD 414 million), a 49.17% year-on-year (YOY) decrease. Revenues in the first quarter of 2022 dropped 8.7% YOY to RMB 9.43 billion (USD 1.39 billion).
Huawei’s Expansion into Healthcare
Huawei ventured into the medical device business in November 2020 with the approval of its wrist single-lead ECG collector (VID-B99) in Guangdong. In September 2021, the company launched the Huawei Cloud Pangu drug molecule discovery model, developed in collaboration with the Chinese Academy of Sciences (CASS) Shanghai Institute of Materia Medica (SIMM), marking its entry into the AI drug development field.-Fineline Info & Tech
